Udayy, the Gurugram-based edtech startup, has raised $2.5 million in a seed round led by Alpha Wave Incubation (AWI), managed by Falcon Edge Capital, and InfoEdge Ventures. The funding round also saw participation from Better Capital, Kunal Shah, and other angels.
The edtech startup will use the fund for its next phase of growth, which will include curriculum development, product suite expansion, and hiring.
Udayy, founded by Saumya Yadav, Mahak Garg, and Karan Varshney – alumni of IIT Delhi and Stanford University — raised its first round of angel funding in June 2019.
Udayy founders (from left): Mahak Garg, Karan Varshney and Saumya Yadav
Udayy teaches Mathematics and English to children in the age group of 6-11 years. According to the edtech startup, it facilitates the development of Mathematical thinking and confident speaking in children by engaging them in an interactive, small classroom with three-five children.
Recently, it also launched a free app providing daily worksheets for children. The startup claimed that its business model has solved for high contribution margins and upwards of 97 percent retention.
Speaking on the investment, Udayy Co-founder and CEO Saumya Yadav, said, "Primary grades are formative years of education for children. An outdated education system is failing Indian parents and children. Udayy is making learning fun and engaging for children by bringing ‘learning by doing’ methodology through games, role plays, and activities to our classrooms.”
The edtech startup claims its USP lies in the flipped classroom methodology, where the student drives his or her own learning pedagogy, customised to the student’s individual capability. Also, Udayy believes it is catering to the untapped segment of the younger age group.
Anirudh Singh, Managing Director, Alpha Wave Incubation, said, “After-school education in the younger age group segment is an untapped market in India. Udayy is on track to disrupt the space through its experiential learning model, which uses technology-driven gamification as a key driver of learning outcomes.”
It runs over 400 classrooms daily for children from 45 locations across India.
Edited by Suman Singh
Link : https://yourstory.com/2021/01/edtech-startup-funding-udayy-25m-seed-round-alpha-wave-incubation
Author :- Thimmaya Poojary ( )
January 18, 2021 at 02:28PM
YourStory